M&A Deal Summary

Foot Locker Acquires WSS

On August 2, 2021, Foot Locker acquired retailer WSS from Riata Capital Group and Dos Rios Partners for 750M USD

Acquisition Highlights
  • This is Foot Locker’s 5th transaction in the Retail sector.
  • This is Foot Locker’s largest (disclosed) transaction.
  • This is Foot Locker’s 4th transaction in the United States.
  • This is Foot Locker’s 1st transaction in California.

M&A Deal Summary

Date 2021-08-02
Target WSS
Sector Retail
Buyer(s) Foot Locker
Sellers(s) Riata Capital Group
Dos Rios Partners
Deal Type Add-on Acquisition
Deal Value 750M USD
Advisor(s) Robert W. Baird & Co., Inc. (Financial)
Manatt, Phelps & Phillips LLP (Legal)

Target

WSS

Gardena, California, United States
website
Warehouse Shoe Sale (WSS) is a specialty retailer of athletic, fashion, and work-related footwear, apparel, and accessories. Warehouse Shoe Sale offers a full assortment of the leading athletic footwear brands (including Nike, Jordan, Vans, Converse, Adidas, Skechers, Fila, and Reebok) and private footwear offerings in fashion for women and workwear for men. Warehouse Shoe Sale was founded in 1984 and is based in Gardena, California.

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Buyer(S) 1

Buyer

Foot Locker

New York, New York, United States

website


Category Company
Founded 1879
Sector Retail
Employees16,555
Revenue 9.0B USD (2022)
DESCRIPTION

Foot Locker is a specialty athletic retailer that operates approximately 3,500 stores in 23 countries in North America, Europe, Australia, and New Zealand. Through its Foot Locker, Footaction, Lady Foot Locker, Kids Foot Locker, Champs Sports, SIX:02, Runners Point, and Sidestep retail stores, as well as its direct-to-customer channel, including footlocker.com, Eastbay, CCS.com, SIX:02.com, runnerspoint.com, and sidestep-shoes.com, the Company is a leading provider of athletic footwear and apparel. Foot Locker was incorporated in 1879 and is based in New York, New York.


DEAL STATS #
Overall 6 of 6
Sector (Retail) 5 of 5
Type (Add-on Acquisition) 4 of 4
State (California) 1 of 1
Country (United States) 4 of 4
Year (2021) 2 of 2
Size (of disclosed) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-02 Atmos

Tokyo, Japan

Atmos is an operator of a digitally-led, premium, global retailers. atmos is a culturally connected brand featuring premium sneakers and apparel, an exclusive in-house label, collaborative relationships with leading vendors in the sneaker ecosystem, experiential stores, and a robust omnichannel platform. atmos' base of 49 stores globally, including 39 in Japan, operates under the atmos banner and atmos pink, its women's brand. Atmos was founded in 2000 and is based in Tokyo, Japan.

Buy $360M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-27 Eastbay Team Sales

Wausau, Wisconsin, United States

Eastbay Team Sales was formed to meet the performance needs of local high school and college athletes. The company is now a leading supplier of athletic footwear, apparel, and sports equipment to high school and college athletes. Eastbay Team Sales was formed in 1980 and is based in Wausau, Wisconsin.

Sell -

Seller(S) 2

DESCRIPTION

Riata Capital Group is a private equity firm focused on control and non-control investments in profitable middle-market companies headquartered throughout North America. Riata looks to invest $15 to $75 million in companies valued up to $250 million. Sectors of interest include consumer products/services, business services, energy, and healthcare. Prospective transaction situations include recapitalizations, buyouts, divestitures, growth capital investments, and consolidations. Riata Capital Group was formed in 2015 and is based in Dallas, Texas.


DEAL STATS #
Overall 1 of 1
Sector (Retail) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (California) 1 of 1
Country (United States) 1 of 1
Year (2021) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-01 Greenix Pest Control

Orem, Utah, United States

Greenix Pest Control is a high-growth provider of subscription-based, residential pest control services to customers in 13 markets clustered in the Midwest, Mid-Atlantic, and Eastern U.S. The Company provides a full range of in-home and exterior services that address general pests, ticks, flees, mosquitoes, and rodents, among others, typically through service contracts providing quarterly or monthly treatments. Greenix Pest Control was founded in 2011 and is based in Orem, Utah.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-12 Salon Republic

Woodland Hills, California, United States

Salon Republic is an operator of company-owned salon suites that provide individual salon studio venues and value-added services to beauty care professionals in seven large western markets clustered in California, Colorado, Texas and Washington. Salon Republic provides a full range of services to its stylists, including individual private salon studios, complimentary linen services, on-site product selection, full time on-site management, educational teach-ins and related events, among other services. Salon Republic was founded in 2000 and is based in Woodland Hills, California.

Buy -
DESCRIPTION

Dos Rios Partners is a private equity firm focused on investing in and acquiring small, profitable, established companies with $3 to $12 million of EBITDA. Dos Rios does not have any sector preferences, although the firm has a preference for businesses operating in basic industries. The Firm's geographic coverage is exas, New Mexico, Arkansas, Colorado, Louisiana, and Oklahoma, although Dos Rios will consider add-ons throughout the US. Dos Rios Partners was formed in 2012 and is based in Austin, Texas.


DEAL STATS #
Overall 2 of 2
Sector (Retail) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (California) 1 of 1
Country (United States) 2 of 2
Year (2021) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-16 Greenology Products

Raleigh, North Carolina, United States

Greenology Products, Inc. is a manufacturer and distributor of natural and USDA certified organic cleaning, laundry and health, and beauty aid products ships to over 9,000 stores in the United States. Greenology Products was founded in 2008 and is based in Raleigh, North Carolina.

Buy -